VISION

Information to knowledge
and
Knowledge to Wisdom

MISSION
To nurture and foster an innovative academic
environment for critical thinking, all-round growth and
continuous development of students and staff to make them
responsible and sensitized citizens of society.

OBJECTIVES
• To Provide an atmosphere of learning and
encouragement to all students and staff.
• To motivate students from even the most humble
backgroundforwards achieving excellence in academic
and other fields.
• To inculcate values for holistic development and
character building.
• To encourage and imbibe ICT Skills that gives students
a competitive edge.
• To Prepare students to take their rightful place in
society and contribute to national development.

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 Learning Outcomes and Graduate Attributes
The college provides suitable infrastructure, learning
resources, environment and qualified faculty for the
programmes offered. Students are expected to put in
appropriate learning inputs and take benefit of all this during
their course period.
Thus, on completing the course, every student
graduating from this college should reap at least the
following benefits of his / her personality development.

Becoming a good human being and a mature,
responsible and sensitized citizen.

Acquiring a foundation that can grow into any desired
field in life.

Possessing sufficient subject-related knowledge and
skills for useful application in a job / business / real life
situation in the contemporary world.

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 Vidya Prasarak Mandal was founded in the year 1935. Its founding
fathers led by late Dr. V.N. Bedekar, a medical practitioner were men imbued
with idealism and desire to serve the educational needs of the people of
Thane.
Beginning with a primary school, Dr. Bedekar and his team, worked
with missionary zeal. Today, the educational institutions established by
Vidya Prasarak Mandal in Thane serves the needs of nearly fifteen thousand
students. The Educational Institutions include:-

Dr. Bedekar Vidya Mandir (Marathi Medium)

Sou. A.K. Joshi English Medium School

B.N. Bandodkar College of Science

K.G. Joshi College of Arts

N.G. Bedekar College of Commerce

VPM’s TMC Law College

VPM’s Polytechnic

VPM’s Polytechnic IT Centre

Advanced Study Centre

Dr. V.N. Bedekar Institute of Research & Management Studies

Maharshi Parshuram College of Engineering
In 2008-2009 Vidya Prasarak Mandal opened its doors to international
institutions of repute. An educational collaboration was signed with California
University of Technology, USA, (CalUniversity) for conducting professional
courses namely, Master of Business Administration and Doctoral Programme
in Business Administration. An MoU was signed with the University of Skovde
Hogskolevagen, Sweden for conducting Graduate and Post Graduate Courses
in Medical Biotechnology, Molecular Biology and Physiology. Another
milestone has been the establishment of the VPM’s London Academy for
Education and Research. This Academy offers courses in Management,
Indian Culture and other emerging areas. The foundations of the proposed
world class Engineering College (VPM’s Maharshi Parshuram College of
Engineering) with state-of-the-art facilities has been laid in Velneshwar 55
Km. from Chiplun (Mumbai - Goa highway). Work on this project is completed.
First batch has Started from June 2012.
K.G. JOSHI & N.G. BEDEKAR COLLEGE:
K.G. Joshi & N.G. Bedekar College of Arts & Commerce was the first
institution of higher learning to be established in Thane City in 1969.

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Strategically located, the college is at walking distance from Thane Railway
Station on the Central Railway line. It is well connected by bus services to
every part of the city including Navi Mumbai.
The College received permanent affiliation, in January 1988 with effect
from June 1982. The college was reaccredited by National Assessment
and Accreditation Council (NAAC), Banglore and awarded ‘A’ grade
in January 2011.
The College is also one of the Community Colleges of the University of
Mumbai and has got the Best College Award of University of Mumbai.
COURSES OFFERED
The College offers a number of courses. They are as follows:

Bachelor of Arts with specialization in English, Marathi, Hindi, Sanskrit,
Philosophy, Economics, Politics, History, Geography, Psychology
(all 6 papers) and Statistics (3 papers)

Bachelor of Commerce with specialization in Advanced Accounting and
Auditing and Business Management.

Bachelor of Management Studies (BMS)

Bachelor of Commerce (Accounting and Finance)

Bachelor of Commerce (Banking and Insurance)

Bachelor of Commerce (Financial Markets)

Bachelor in Mass Media (English & Marathi)

Bachelor of Library and Information Science (BLISc)

Masters in Commerce in Business Management

Masters in Commerce in Advance Accountancy

Masters in Commerce in Banking & Finance

Masters in Arts by Research and Ph.D in Philosophy. Principal Dr. (Mrs.)
Shakuntala A. Singh is the recognized Ph.D research guide in Philosophy.

Masters in Library and Information Science (MLISc)

Masters in Mass Communication and Journalism

Masters in Philosophy by papers

Masters in Hindi by papers

Autonomus Courses

Post Graduate Diploma in Library Automation & Networking (PGDLAN)

Certificate Course in Tourism Business Management (CCTBM)
(sign up by VPM, Thane and Thomas Cook India Ltd.)

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Add on Certificate Courses recognised by University Grants
Commission (UGC)

Conversational English

Gandhian Philosophy
Now Courses, Divisions and Subjects Commencing from Academic
year 2015-16

Masters in Business Economics

Additional Division in Masters in Commerce in Advanced Accountancy.

Additional Division in Masters in Commerce in Banking and Finance.

Optional subject of NCC in First Year Bachelor of Arts.
ENVIRONMENT
The College admits students from a variety of backgrounds. The
students profile ranges from first generation learners to children of established
professionals. The College provides an atmosphere of learning and
encouragement to all its students irrespective of their background. The
environment in the College is such that even a student from the most humble
background is motivated towards achieving excellence.
The College is part of a vast campus aptly called Jnanadweepa. It offers
all modern facilities such as spacious classrooms and reading hall, rich
library,reference and research section, ladies room, gymkhana, conference
hall and an amphitheatre called Kattyayan. The campus has a large canteen
and a well equipped auditorium called Thorale Bajirao Peshwe Sabhagruha.
Our entire college campus is interconnected with Fiber Optic Network having
24 hours access to internet via Leased Line. College has subscribed 10 Lines
of MTNL Broadband Service. with Wi-Fi facility is also available on Campus.
A well laid path circumnavigating the campus offers an idyllic walk
amidst trees and flowering plants. Jnanpath as it is called is a haven in a
city starved of open spaces.
Physical Facilities are no doubt important, but it is the encouragement
and support given to students at every stage that goes towards developing
the personality of the student. Keeping this objective in view, the College
offers a host of opportunities and facilities for the students.
FACILITIES FOR STUDENT DEVELOPMENT

Library : The College boasts of excellent library facilities with Home
Lending Section, Acquisition Section, Reference and Research Section
and Reading Hall. Library has started ‘Braille Section’ for visually

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 challenged students. A complete Database of the Library is available on
OPAC-Online Public Access Catalogue for the students and teachers.
In addition to this, the library provides online access to reputed databases
like JSTOR, EBSCO, HOST, CMIE, ERIC, UGC N-List E resources and
ART STOR. The Library offers external membership facility.

Book Bank Facility : The College offers University of Mumbai’s Book
Bank facility to the students belonging to backward class Category. In
addition of this facility, College also offers Book Bank Facility to the
needy Students Belonging to weaker sections to the society from its
own funds.

Computer Lab: The College has a well designed air-conditioned
computer laboratories with LCD facilities. Every student has access to
a computer with software designed according to the syllabus. Practicals
are conducted under the supervision of trained IT and Computer staff.

Language Laboratory : A state-of-the-art language laboratory with
seating arrangement for 30 students is available for the students. The
laboratory has friendly audio communication facilities for student
teacher interaction. The laboratory is used for programmes in functional
English and Communication Skills.

Gymkhana: The College has a well-equipped gymkhana, managed
by a team of professors and physical instructor. There is a gymnasium
free of charge with a trained instructor. Special timings are reserved
for girl students.

Sports Academy: A Sports Academy has been set up for students with
an inclination towards sports activities. The college encourages individuals
and teams who participate in various sports and aim at achieving
excellence. Our students have distinguished themselves in National
and International sporting events. The College believes that a healthy
mind and healthy body go together. Towards realizing this objective, a
fitness-training programme has been introduced for the students.

Cultural Activities: The cultural needs of the students are taken care
of through various activities such as dramatics, music, dance etc.
The college encourages and support festivals organized by students.
Our festivals – Navrang, Gandharva and Chrysalis have become very
popular among the students.

Talent Academy: A Talent Academy is constituted to unfold the hidden
talents of the students. Workshops are conducted in creative arts to
nurture and develop talents of the students.

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Scholars’ Academy: To encourage academic excellence, a Scholars
Academy has been formed. Students are invited to become members
of the Academy. The Academy arranges for its students to attend
lectures and discussions on various subjects in the college and outside,
pursue academic interests and develop ones personality.

Speakers’ Academy: A Speakers Academy trains the students in the
art of public speaking. Students trained by the Speakers Academy
have won a number of prizes in inter-school and inter-college
competitions.

Research Academy: To inculcate research aptitude among the
students a Research Academy has been set up. The Research
Academy encourages students to conduct surveys and present their
findings.

National Service Scheme (NSS): The college has a vibrant NSS
Unit that encourages the development of the students into responsible
citizens of the society. Students under the guidance of Professors are
actively involved in a number of programmes that are carefully monitored
by the NSS Unit of University of Mumbai.

National Cadet Corps (NCC): The College has an active Army and
Naval wings for both men and women. Aspirants to a career in the
defence services will find it rewarding to join the NCC.

Counselling: The College has an in house counsellor to offer support
and guidance to students in need of help. In addition to psychological
support, career guidance is provided to help individual student focus
on his/her strength and there by plan his/her sucess path.

Students Council: A students council is formed in accordance with
the provisions of the Maharashtra Universities Act 1994. It consists of
class representatives and secretaries of different associations. The
council acts as a liaison between the students and the Principal.
Student representatives are provided a training ground for leadership
roles in future.

Civil Defence: The College has a Civil Defence unit to train the students
in life saving techniques. Training is imparted in first aid, fire fighting,
self rescue, facing unexploded bomb situations in civil areas and general
rescue methods. Students who complete the civil defence course are
awarded certificates by the Maharashtra Government.

Women Development Cell (WDC): The WDC believes in
empowerment of girl students. The cell encourages the students into
developing into confident individuals.

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Placement Cell: The Placement Cell assists students in career
counselling by professionals and securing placements. Our students
have secured assignments in TCS, ICICI, Dawnaday AV, Thane Janata
Sahakari Bank, etc.

(DLLE) DEPARTMENT OF LIFELONG LEARNING & EXTENSION:
To facilitate the sensitization of the students to the socio-cultural
realities, the college has introduced the extension work prospects
program offered by the Department of Life Long Learning and Extension
of University of Mumbai. These projects are based on promoting the
aims and values of human development in community, college and
university and encouraging interaction, support and networking among
students. The student is awarded Ten Additional Marks at the final
examination on completion of 120 hours of work and the submission of
a project report based on two different units : 1) Vocational Career
oriented projects OR ii) Community oriented projects respectively.

Generation Dialogue: A forum titled Generation Dialogue has been
established to encourage mutual understanding between the youth
and senior citizens and bridge the generation gap. Senior citizens are
invited to share their wisdom and experiences.

Students’ Forum: To give the students platform to discuss various
current issues and develop their analytical and debating skills Students’
Forum motivates the students.

Remedial Coaching and Entry in Service Schemes of UGC: The
College offers the Remedial Coaching and Entry in Service Schemes
of University Grants Commission (UGC) to the students belonging to
SC, ST, OBC (Non-creamy layer) and Minority categories of
Grant-in-aid Section.

Business English Certificates (BEC): The College offers the Business
English Certificate courses of Cambridge University (United Kingdom)
to the college students. There are three levels of these certificate exams
and these are,
Level-1-Preliminary’
Level-2-Vantage and
Level-3- Higher.
Certificate Course in Social Work : NSS Volunteers are offered the
Certificate Course in Social Work.

Summer Placements : Students are offered placements during
summer vacation in association with various Companies.

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National Seminars: The College has been conducting workshops
and seminars at National level. Experts from various fields / subjects
are invited as resource persons.
Seminars Conducted:
2004 - National Seminar – ‘Water Management Scenario 2025’
2005 - State Seminar – ‘Marathi and Computers’
2006 - National Seminar – ‘Bio-Ethics’
2007 - National Seminar – ‘Indian Philosophy – Its Relevance
in the 21st Century’
2008 - National Seminar – ‘Post Independence Indian Literature’
2009 - International Seminar – ‘Mind, Brain & Consciousness’
2011 - National Seminar – Development of India through Micro
Financing
2011 - National Seminar – Post Modernization of Libraries :
Challenges and Opportunities.
2013 - International Seminar – Geography of Change:
Contemporary issues in
development environment and
society.
2013 - National Seminar – Jammu Kashmir Affairs:

2014 - International Seminar – Money, Finance and Economic

Growth: Emerging Issues.
2014 - National Seminar – Article 370 of Indian Constitution.
2015 - National Seminar – Women’s Quest for Equality in India
Promises, Problems and Prospects
2016 - National Seminar – Indian Cinema : Past,Present and
Future
2017 - (Forthcoming) – Revisiting Shakespeare 400 Years After
National Seminar

Film Society: A Film Society has been established in the campus.
Internationally acclaimed films are screened for the members of staff
and students regularly. The Joshi-Bedekar College Film Society is the
first college Film Society in Maharashtra to be affiliated to the Federation
of Film Societies of India.

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Foreign Languages Programme: Vidya Prasarak Mandal has foreign
languages programme in German, French, Japanese & Chinese.
Students are invited to take advantage of this unique programme, that
will provide them a competitive edge in a global society.

Community College : Our College has become the Community College of
the University of Mumbai. For details please log on to www.vpmthane.org

Anti-Ragging Committee : The College has formed the Anti-Ragging
Committee as per the guidelines of University Grants Commission and
the University of Mumbai.
Students involved in offence of Ragging will be strictly punished by the
College Administration.
Email : helpline@antiragging.in
Toll free Anti-Ragging helpline : 1800-180-5522

Yoga : The College conducts the training sessions of yoga for the
Students and teachers.

Rules & Regulations:
To enable the smooth working of the college, students are expected to
observe rules and regulations that are in force.

1) Students must wear their Identity Card to enter the college through
Gate No.2. Six turnstile machines are placed-three for entry and
three for exit. If any student forgets to bring their Identity Card they
must enter through Gate No. 1 and register their entry in the Security
Cabin. Strict action will be taken against any student misusing their
Identity Card and allowing unauthorized entry through Gate No.2.
2) Students must wear and display their college identity card whenever
in college or when representing the college at any other place. It
should be produced whenever demanded by any of the college staff.
3) The use of mobile phones in the college premises is strictly prohibited.
4) During lecture hours, students should be present in the class.
Students should not loiter around college premises.
5) Students are expected to observe decorum and decency in clothing
and behaviour.
6) In case of any problem, students can approach the Vice Principal.
7) Students should not collect any fund from other students or from
outsiders without the written permission of the Principal.
8) Students shall not organize on their own picnics, excursion, trips,
etc., without prior, written permission of the Principal.

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 9) Students should not write on benches/walls and should help in
maintaining the learning environment neat and clean.
10) The powers relating to disciplinary action in the college will vest with
the Principal and her decision in this respect shall be final.

Library Rules
1. Rules and Regulations of the library (for students)
a. Every individual entering the library should be a BONAFIDE STUDENT
of the College and must have a valid INDETITY SMART CARD. Students
should wear and display identity card whenever they are on the campus.
If any student is found without wearing identity smart card,he/she will
be charged fine of Rs. 100/- (Hundred Rupees). The identity s m a r t
card should be produced as and when demanded by any of the
library staff.
2. Duplicate Smart Identity Card
a. In case Identity Smart Card is lost, it should be reported to the Librarian
immediately. A duplicate Identity card will be issued to the student
against a payment of Rs. 300/- on Fridays only, after receiving
prescribed application and copy of a police complaint or affidavit on
stamp paper in this respect.
3. Circulation
a. Library books are lent to readers for home reading between 8.00 a.m.
to 5.00p.m.
Note: For in-house reading, books from reading hall as well as home
lending section and ‘Referance and Research Section’ are provided
during all working hours.
4. Library Fine
a. Books are issued for a period of one week from the Home Lending
section. Books reserved for in-house reading are not allowed to be
taken out. A book must be returned on or before the due date shown
on the book. In case a student fails to return a book within the time
limit, a fine of Re. 1 per day per book will be charged for first 15 days
and Rs. 2/-per day per book after 15 days onwards. During Examination
days the fine would be Rs. 10/- per day per book. A student may get a
book reissued, if it is not in demand.
5. Mutilation of Books
a. It is strictly forbidden to mark library books with pencil or ink or mutilate

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 them in any way. The reader to whom the book was /is issued last will
be held responsible for loss of pages or any other damage unless he/
she has brought it to the notice of the library staff before borrowing Any
student held responsible for damage of reading materials will be liable
to fine equivalent to the damage caused.
6. Reading Hall
a. Reading hall copies of the books should be used in reading hall only. A
student taking books outside the reading hall without the permission
of the librarian will have to pay a fine of Rs. 10.- per day per book.
b. Reserving of seats is not permitted in the reading hall of the library
under any circumstance.
c. Complete Silence must be observed in and around the library.
Disregard of this rule will invite punishment leading to suspension of
members.
d. Please note that Reading Hall is meant for reading purpose and self
study only. Students should not discuss anything in the Reading Hall.
7. Discipline
a. The smooth working of the library is possible only if students adhere
to the rules and regulations of the library. The Librarian reserves the
right to refer cases of breach of discipline to the Principal.
Note : Although no specific rules and regulations are formulated for
the staff, all the members are advised to observe general rules and
decorum.

Dress Code
A formal dress code is prescribed for students of self-financing courses.
It is mandatory for students to follow the precribed dress code on two
days of the week namely Tuesday and Friday and whenever specified.
The formal dress will comprise of the following:
Girl Students

Navy blue blazer with trouser. The blazer must be waist length

Whife self-printed shirt

Formal foot wear

Neatly brushed / tied hair
Boy Students

Navy blue blazer with trouser

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Whife self-printed shirt

Navy blue tie

Formal foot wear

Well set trimmed hair
NOTE: skirt / tight fit trousers / slippers / floaters will not be permitted.

Attendance:
The attendance of the students is regulated by ordinance 119 of Mumbai
University.
1. The ordinance states that, “For granting of terms, attendance of 75%
of theory, practical and tutorials (wherever prescribed) separately will
be required, and of the total number of lectures, practicals and tutorials
conducted in the term.”
2. Students who fail to maintain the condition of minimum attendance on
account of bonafide illness, or any other reason which is deemed right
by the Principal, should apply in writing to the Principal for leave of
absence, prior or within 2 days from the date of commencement of
such leave, failing which they will be treated as defaulters.
3. All applications for leave of absence along with medical certificate, if
any are to be submitted to the Coordinator.

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 UNIVERSITY OF MUMBAI
ORDINANCES AND REGULATIONS RELATING TO THE
BACHELOR OF COMMERCE (ACCOUNTING AND FINANCE)
0.5203 The Degree shall be titled as Bachelor of Commerce (Accounting
and Finance)
Objectives
a) To create for the students, of University of Mumbai an additional avenue
of self-employment and also to benefit the industry by providing them
with suitable trained persons in the field of Accounting & Finance.
b) To prepare students to exploit opportunities, being newly created, in
the accounting and finance profession.
c) To Provide adequate basic understanding about accounting and finance
education among the students.
d) To give an adequate exposure to operational environment in the field of
accounting and finance.
e) To inculcate training and practical in approach by using modern
technology amongst the students in the field of Accounting & Finance.
0.5204 Eligibility
a) A candidate for being eligible for admission to the bachelor of Commerce
(Accounting & Finance) Degree course shall have passed XII Std.
Examination of the Maharashtra Board of Higher Secondary Education
or its equivalent and secured not less than 45% marks in aggregate at
first attempt (40% in case of reserved category).
b) Every Candidate admitted to the Degree Course in the Constituent/
affiliated college/recognized institution, conducting the course, shall
have to register himself/herself with the University.
R. 4281 Duration of the course and related Information
a) The Course shall be a full time course. The duration of the course shall
be six semesters spread over in three years.
b) Number of students : A batch shall consist of not more than 60 students.
c) The course shall consist of 40 Subjects
d) Total number of lectures per paper per subject per semester (subject
shall be maximum of 60, each of 50 minutes duration.)

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Rules of Admission
1) Right of admission is reserved by the University.
2) Each student shall present himself / herself, before the Principal or the
person authorized to act on behalf of the Principal, with an application in
prescribed form duly filled and signed by himself / herself and his/her
parent or guardian.
3) No admission shall be regarded as duly granted unless it is granted by
the authority of the Principal and the necessary fees have been received
by the college.
4) All admissions are valid only for one academic year and are required to
be renewed by applicaton in the prescribed form for every subsequent
year of study in the college.
5) Once the student is admitted to the college, he/she shall be liable to
pay full fees for the whole term.
6) A student once admitted will be considered duly enrolled for the academic
year unless he/she informs the Principal in writing of his/her intention to
leave the college, at least one week before commencement of the
semester. If no such intimation is received, full fees for the semester will
have to be paid.
7) While taking admission to the first year class of the Degree college, a
student must submit the following documents duly completed.
i) Admission form.
ii) Eligibility certificate (Application form will be supplied by the office)
OR
Eligibility certificate from the university of Mumbai in case of a student
passing examination from other than the Maharashtra State Board of
Secondary Education.
iii) Original Marks sheet of H.S.C. or equivalent examination, along
with 3 xerox copies of the same.
iv) Transfer certificate issued by the H.S.C. board (in the case of
students coming from other colleges)
v) Prescribed fees in full and in cash. (Cheques will not be accepted)
8) All admissions are provisional until all the necessary certificates, such
as the final eligibility certificate, transterence certificate, etc are
submitted to the college.

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Fees Structure:-
The fees for the course shall be as follows
Fees Details B.Com Accounting & Finance
F.Y. BCom S.Y. BCom T.Y. BCom
Tuition fees 10,000 10,000 10,000
Enrolment fee only for FY 220 0 0
Library Fees 600 600 600
Gymkhana fees per year 200 200 200
Others Fee/Extra Curricular Activity 250 250 250
Library Deposits 250 0 0
Laboratory Deposit 400 0 0
Caution Money 150 0 0
College Exam Fee/Statement of Marks 1420 1420 1420
Computer Practical 1000 1000 0
Laboratory Fees 1000 1000 0
Industrial Visit 500 500 500
Adm. Processing 200 200 200
Utility Fee 250 250 250
Magazine Fee 100 100 100
Identity & Library Card Fee 50 50 50
Group Insurance 20 20 20
Student Welfare Fund 50 50 50
Development Fund 500 500 500
V.C. Fund 20 20 20
Uni Sports & Cultural Activity 30 30 30
University E Suvidha 50 50 50
E Charges 20 20 20
Disaster Relief Fund 10 10 10
Total 17290 16270 14270
SC/ST/VJ/NT/SBC category degree students are required to make a nominal
payment of Rs.1,820/- for FY, SY & TY at the time of taking admission. They
must fill government freeship / scholarship form on notification by the college
failing which they are liable to pay full fees. Students belonging to OBC
category must pay 50 percent of total fees.
NOTE : The fee structure is subject to change as per the guidelines issued
by the University of Mumbai from time to time.

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 REFUND OF FEES
O. 2859 : Refund of Tuition, Development and all other fees after
cancellation of admission :
The candidates who have taken admission in under graduate courses in
Govt. colleges, in Govt. aided and unaided courses conducted affiliated
colleges and recognized Institutions may request for refund of fees after
applying in writing for cancellation of their admission to the course. The refund
of fees as applicable shall be made on or before 30th day after the date of
cancellation and thereafter. The percentage of fee for the course shall be
refunded to the candidate after deducting charges as follows :
Table - 1: Fee Deduction on cancellation of admission
Period and Percentage of deduction charges
(i) (ii) (iii) (iv) (v) (vi)
Prior to Upto 20 From 21st From 51st day From After
commen- day after the day upto upto 80 days September September
cement of commen- 50 days commencement 1st to 30th 30th
academic cement of after of academic September
term and academic commence- term and
instruction term of the ment of course of
of the course course academic August 31st
term of whichever is
the course is earlier.
Deduction Rs. 500/- 20% of 30% of 50% of the 60% of the 100% of
Charges Lump sum the total the total total amount total amount the total
amount of amount of of fees of fees amount of
fees fees fees

NOTE : The total amount considered for the refund of fees from the
commencement of academic term of the courses includes the
following:-
(i) All the fees items chargeable for one year are as per relevant
University circulars for different Faculties (excluding the courses
for which the total amount is fixed by other competent authorities.)
(ii) The Fee charged towards group insurance and all fee components
to be paid as University share (including Vice-Chancellor fund,

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 University fee for sports and cultural activities, E-charge, disaster
management fund, exam. fee and Enrollment fee) are non-
refundable if payment is made by the college prior to the date of
cancellation.
(iii) Fee collected for Identity card and Library card, admission form
and prospectus, enrollment and any other course specific fee are
not refundable after the commencement of the academic term.
(iv) All refundable deposit (Laboratory, Caution Money and Library
etc.) shall be fully returned at the time of cancellation.)
Scholarships / Freeships
A number of scholarships and freeships are available for needy and
deserving students. Students who wish to apply for SC/ST/OBC/SBC/VJNT
Scholarship are required to keep the following documents ready.
1. Income certificate 2015-16
2. Caste Certificate
3. Caste Validity Certificate for ST
4. Ration Card
5. Non creamy layer certificate for OBC freeship
6. Photocopy of previous marksheets
Rules and regulations governing scholarships and freeships are available
in the office.
N.B. : a) If there is a gap in the students academic career a gap certificate
must be enclosed along with the scholarship form.
b) August 30th 2016 is the last date for accepting scholarship &
freeship forms.
c) Students who do not fill scholarship / freeship forms must pay full
fees prescribed for the course.

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 BACHELOR OF COMMERCE (ACCOUNTING & FINANCE)
COURSE STRUCTURE
FIRST YEAR
FIRST SEMESTER SECOND SEMESTER
1.1.1. Financial accounting paper - I 1.2.1 Financial accounting paper - II
(Elements of Fin. Accounting) (Special Accounting areas)
1.1.2. Cost accounting paper - I 1.2.2 Auditing paper - I
(Introduction & Elements of Cost) (Introduction & Planning for Audit)
1.1.3. Economics-paper - I 1.2.3 Financial Management paper - I
(Micro Economics) (Introduction to Financial Management)
1.1.4. Commerce paper - I 1.2.4 Taxation paper-I
(Business Environment) (Indirect Taxes paper - I)
1.1.5. Accounting with Use of Accounting 1.2.5 Business Law paper-I
Softwares-(Introduction & Applica (Business Regulatory Framework)
tions) - paper -1
1.1.6. Business Communication Paper - I 1.2.6 Quantitative Methods for Business paper - I
1.1.7. Foundation Course paper - I 1.2.7 Business communication paper - II
(Commercial Environment) Applications in Business

SECOND YEAR
THIRD SEMESTER
2.3.1 Financial accounting paper - III
(Special Accounting area)
2.3.2 Cost accounting paper - II
(Methods of costing)
2.3.3 Auditing paper - II
(Technique of Auditing &
Audit Procedures)
2.3.4 Economics-paper - II
(Macro Economics)
2.3.5 Business Law paper - II
(Business Regulatory Framework)
2.3.6 Management paper- I
(Introduction to management)
2.3.7 Quantitative Methods for Business
paper - II
FOURTH SEMESTER
2.4.1 Financial accounting paper - IV
(Special Accounting Areas)
2.4.2 Management Accounting paper - I
(Introduction to management accounting)
2.4.3. Taxation paper - II
(Indirect Taxes)
2.4.4 Commerce paper-II
(Financial Market Operations)
2.4.5 Business Law paper-III
(Company Law)
2.4.6 Information Technology paper-II
(Applications in Business)
2.4.7 Foundation Course - II
(Value Education and Soft Skill)

AF 19
 THIRD YEAR

FIFTH SEMESTER SIXTH SEMESTER

3.5.1 Financial accounting paper - V 3.6.1 Financial accounting paper - VI

3.5.2 Cost accounting paper - III 3.6.2 Cost accounting paper - IV

3.5.3 Financial Management paper - Paper II 3.6.3 Financial Management Paper III

3.5.4 Taxation paper - III 3.6.4 Taxation paper-IV

(Direct Taxes paper - I) (Direct Taxes paper - II)
3.5.5 Auditing Paper - III 3.6.5 Financial Accounting - Paper VII

3.5.6 Management Paper - II 3.6.6 Economics Paper - III

(Management Applications) (India Economy)

I. STANDARD OF PASSING AND PERFORMANCE GRADING :

STANDARD OF PASSING
The learners to pass a course shall have to obtain a minimum of 40%
marks in aggregate for each course where the course consists of Internal
Assessment & Semester End Examination. The learners shall obtain
minimum of 40% marks (10 out of 25) in the Internal Assessment and
40% marks in Semester End Examination (30 out of 75) separately, to
pass the course and minimum of Grade E in each project wherever
applicable to pass a particular semester. A learner will be said to have
passed the course if the learner passes the Internal Assessment &
Semester End Examination together.
PERFORMANCE GRADING
The PERFORMANCE GRADING of the learner shall be on the SEVEN
point Grading system as under:

20 AF
 Grade Marks Grade Point
O 70 & above 7
A 60 to 69.99 6
B 55 to 59.99 5
C 50 to 54.99 4
D 45 to 49.99 3
E 40 to 44.99 2
F (Fail) 39.99 & below 1

The performance grading shall ‘be based on the aggregate performance

of internal assessment and Semester End Examination.
II. CARRY FORWARD OF THE MARKS IN CASE IF THE LEARNER FAILS
IN ONE OR MORE COURSES:
1. A learner who PASSES in the Internal Examination but FAILS in
the Semester End Examination of the course shall reappear for the
Semester End Examination of that course. However his/her marks
of the Internal Examinations shall be carried over and he/she shall
be entitled for grade obtained by him/her on passing.
2. A learner who PASSES in the Semester End Examination but FAILS
in the Internal Assessment of the course shall reappear for the Internal
Examination of the course. However his/her marks of the Internal
Examinations shall be carried over and he/she shall be entitled
grade obtained by him/her on passing.
3. a) For Courses without practical
In case of learner who is reappearing for the Internal Examination,
the examination will consist one project of 25 marks which will be
divided into 15 marks for the documentation of the project, 5 marks
for the presentation and 5 marks for the viva and the interaction.
b) For Courses with practicals
In case of learner who is reappearing for the Internal Examination
for subjects with Practical, the examinations will consist of practical
examination of 25 marks which will be divided into 15 marks for the
machine work / laboratory work, 5 marks for the Viva Examination
and 5 marks for the Journal.

AF 21
III ALLOWED TO KEEP TERMS (ATKT)
Eligibility for Admission to all the Under Graduate Programs
(aided and non-aided) in the Faculties of Arts and Commerce
under Credit Based Semester and Grading System
a. A learner shall be allowed to keep term for Semester II if irrespective of
number of courses of failure in Semester I.
b. A learner shall be allowed to keep term for Semester III if he/she passes
each of semester I and Semester II.
OR
A learner fails in not more than FOUR courses of Semester I and
Semester II taken together with not more than TWO courses at
each of Semester I & Semester II.
c. A learner shall be allowed to keep term for Semester IV irrespective of
number of courses of failure in Semester III.
d. Eligibility criteria for a learner, to be admitted in Semester V (Third year)
of UG programs (aided and non aided) in Faculties of Arts and Commerce
is emended as follows.
i) Shall have passed Semester I, II, III and IV in full
OR
ii) Shall have passed Semester I and II in full and secured ATKT in the
Second year by failing in not more than two Courses in each of Semester
III and Semester IV
OR
iii) Shall have Secured ATKT in First Year by failing in not more than Two
Courses in each of Semester I and Semester II and have passed
Semester III and Semester IV in full.
e. A learner shall be allowed to keep term for Semester VI irrespective of
grades obtained in each course of Semester V. The result of Semester
VI shall be kept in abeyance until the learner passes each of Semester
I, Semester II, Semester III, Semester IV, and Semester V in full
ADDITIONAL SEMESTER END EXAMINATION
ELIGIBILITY TO APPEAR FOR ADDITIONAL SEMESTER END
EXAMINATION:
A learner who does not appear i.e. remains absent in some or all the
courses on medical grounds or for representing the college / university
in sports, cultural activities, activities of NSS, NCC or sports training

22 AF
 camps conducted by recognized bodies / competent authorities or for
any reason which is considered valid under exceptional circumstances
and to the satisfaction of the Principal or the Head of the Institute is
eligible to appear for the additional examination.
A learner who does not appear for both the Internal Assessment and
Semester End Examination shall not be eligible to appear for the
additional Semester End Examination.
The additional Semester End Examination shall be of two and half hours
duration and of 75 marks per course. The learner shall appear for the
course of the Semester End Examination for which he/she was absent
or has failed. Learners who are punished under O.5050 are not eligible
to appear for this additional examination.
MODE OF SEMESTER END ADDITIONAL EXAMINATION:
a) There will be one additional examination for semester I, II, III and IV
for those who have remained absent on said grounds.
b) The absent learner will be allowed to appear for the examination by
the head of the institution after following the necessary formalities
subject to the reasons to the satisfaction of the head of the
institution.
c) Additional Examination for Semester I/II and Semester III/IV be held
after conduct of respective semester end examination.
MODE OF ATKT EXAMINATION :
a) There will be Two ATKT examination for Semester I, II, III and IV
during the academic year for those who have failed earlier. One
examination will be in the First Term and the Second examination
will be in the Second Term.
PROJECT EVALUATION (IF APPLICABLE)
a) A learner who PASSES IN ALL THE COURSES BUT DOES NOT
secures minimum grade of E in project as applicable has to resubmit
a fresh project for evaluation till he. she secures a minimum of grade
E. His/her marks in the theory papers that the learner has passed
will be carried forward and he/she shall be entitled for grade obtained
by him/her on passing.
b) The evaluation of project and viva-voce examination shall be by
awarding grade in the seven point scale as given in the grade point
table.
c. A learner shall have to obtain minimum of Grade “E” (or its equivalent
marks) in project evaluation and viva voce taken together.

AF 23
 SYLLABUS
SEMESTER I

1.1.1 FINANCIAL ACCOUNTING PAPER 1

Elements of Financial Accounting
1. Accounting Standards Issued by ICAI and Inventory Valuation
1.1 Accounting Standards :
Concepts, Benefits, Procedures for Issue of Accounting Standards
Various AS:
AS - 1: Disclosure of Accounting Policies
(a) Purpose (b) Areas of Policies (c) Disclosure of Policies
(d) Disclosure of Change in Policies (e) illustrations
AS - 2 Valuation of Inventories (Stock)
(a) Meaning, Defintion (b) Applicability
(c) Measurement of Inventory (d) Disclosure in Final Account
(e) Explanation with illustrations
AS - 9 Revenue Recognition
(a) Meaning and Scope (b) Transactions Excluded
(c) Sale of Goods (d) Rendering of Services
(e) Effects of Uncertainties (f) Disclosure (g) illustrations
1.2 Inventory Valuation
Meaning of Inventories
Cost for Inventory Valuation
Inventory Systems : Periodic Inventory System and Perpetual
Inventory System
Valuation : Meaning and Importance
Methods of Stock Valuation as per AS - 2
Computation of Valuation of Inventory as on Balance Sheet: Date:
If Inventory is taken on a Date After the Balance Sheet or Before the
Balance Sheet
2. Final Accounts
2.1 Expenditure
a. Capital

24 AF
 b. Revenue
Receipts
a. Capital
b. Revenue
2.2 Adjustments and Closing Entries
2.3 Final Accounts of Manufacturing Concerns (Proprietary Firm)
3. Accounting from Incomplete Records
Introduction
Problems on Preparation of Final Accounts of Proprietary Trading
Concern (Conversion Method)
4. Fire Insurance Claims
Computation of Loss of Stock by Fire
Ascertainment of Manufacturing as per the Insurance Policy
Exclude : Loss of Profit and Consequential Loss
1.1.2 Cost Accounting I : Introduction and Elements of Cost:
1. Introduction to Cost Accounting
Evolution
Objectives and Scope of Cost Accounting
Importance and Advantages of Cost Accounting
Difference between Cost Accounting and Financial Accounting
Limitations of Financial Accounting
Definitions: Cost, Costing and Cost Accounting
Classification of Cost on Different Bases
Cost Allocation and Apportionment
Coding System
Essential of Good Costing System
2. Material Cost
Material Cost : The Concept
Material Control Procedure
Documentation
Stock Ledger, Bin Card
Economic Order Quantity (EOQ)

AF 25
3. Labours Cost:
Labour Cost : The Concept
Composition of Labour Cost
Labour Cost Records
Overtime / Idle Time / Incentive Schemes
4. Overheads:
Overheads : The Concept
Classification of overheads on different bases
Apportionment & Absorption of Overheads
1.1.3. ECONOMICS I: Micro Economics - Paper I
1. Introduction:
a) Concept of Scarcity
b) Choice and Efficiency (with Reference to PPC)
c) Basic Tools in Economic Analysis
i. Equations
ii. Functions
iii. Identities
iv. Slope
v. Time Series
vi. Cross Section Date
vii. Scatter Diagrams
viii. Derivatives and Limits
2. Demand and Supply Analysis
a) Demand Function and Determinants of Demands
b. Supply Function and Determinants of Supply
c. Determination of Equilibrium Price in an Open Market
d. Concept and Importance of Elasticity of Demand : Price,
Income, Cross and Promotional
e. Consumer’s Surplus
f. Demand forecasting Meaning, Significance and Methods
g. Case Studies

26 AF
3. Theory of Production
a) Production Function: Short Run and Long Run
b) Law of Variable Proportions
c) Producer’s Equilibrium
d) Principle of Return to Scale
c) Economies of Scale
f) Case Studies
4. Cost and Revenue Analysis:
a) Cost Concepts : Fixed and Variable Costs
b) Behavior of Cost Curves : Short Run and Long Run
c) Producer’s Surplus
d) Revenue Concepts : Total Revenue, Average Revenue and
Marrginal Revenue under Perfect Competition and Monopoly
e) Break-Even Analysis
f) Case Studies
5. Market Structure
a. Features of perfect competition and monopoly
b. Long-run Equilibrium of a Firm and Industry under Perfect
Competition and Monopoly
c. Features of Monopolistic competition
d. Features of Oligopoly – Price indeterminateness – Cartel
Formation and Forms of Price Leadership
e. Case Studies
6 Pricing Practices, Market Failure and Project Planning
6.1 Pricing Practices
a. Price Discrimination
b. Dumping
c. Marginal-Cost Pricing
d. Cost-Plus Pricing
e. Case Studies
6.2 Market Failure
a. Concept of Market Failure and Inefficiency (Productive and
Altocative Ineificiency using PPC)

AF 27
 b. Causes of Market Failure (Public Goods, Market Power,
Externalities, Information Asymmetry and Equity)
c. Government Intervention and Market efficiency
d. Case Studoes
6.3 Capital Budgeting
a. Meaning and Importance
b. Steps in Investment Appralisal
c. Case Studies
1.1.4. Commerce I : Business Environment - Paper
1. Business and its Environment
1. Business Objectives, Dynamics of Business and its
Environment, Types of Business Enviornment
2. Environmental Analysis: Importance, Factors, PESTEL
Analysis, SWOT Analysis
2. Business Structure:
1. Business Ethics : Nature and Scope of Ethics, Ethical
Dilemmas, Corporate Culture and Ethical Climate
2. Development of Business Entrepreneurship: Enterpreneurship
and Economi Development, Micro, Small and Medium
Enterprises Development (MSMED) Act, 2006,
Enterpreneurship as a Career Option
3. Consumerism and Consumer Protection: Consumerism in India,
Consumer Protection Act 1986
3. Contemporary Issues
1. Corporate Social Responsibility and Corporate Governance:
Social Responsibility of Business, Ecology and Business,
Carbon Credit
2. Social Audit: Evolution of Social Audit, Benefits of Social Audit
v/s Commercial Audit
4. International Environment:
1. Strategies for going Global : MNCs and TNCs, WTO
2. Foreign Trade in India - Balance of Trade, FDI Investment Flows
and its Implication for Indian Industries

28 AF
1.1.5. Accounting with use of Accounting softwares Introduction and
Application - Paper I
1. Introduction to Computers
a. History of Computers
b. Parts of Computers
c. Hardwares : Specifications and Data Storage Managements
d. Software : Concept of System Software and Applications
2. Office Productivity Tool:
a. MS-WORD: Creating, Editing, Formatting, and Printing
of documents, useing Tools, Mailmerge and Print Review and
Set-up
b. MS-EXCEL: Creating Worksheet, Creating Various Formulae,
Creating Charts, Rename and Copy of Worksheet, Using
Tools, Printing Review and Set-up
c. POWERPOINT; Create Project Report, Create Sliders,
Animation, Page Designing, Insert Image, View Page, Print
Review and Set-up.
3. Web:
a. Use of Various Web Browser
b. Information Searching Tool
c. Down loading
d. Create New email ID
e. Sending Date through email
4. Accounting with Use of Accounting Softwares
a. Introduction to Accounting Software
b. Features of Accounting Softwares
c. Installation of Tally ERP.9 Accounting Software
i. Opening Screen of Tally, Creating Company, Loading/
Selecting a Company, Setting a Company, Altering/
Modifying Existing Company, and Configuring Company.
ii. Menu related to Accounts, Groups, Managing Groups,
and Multiple Groups
iii. Ledgers: Creating Single Ledger, Advanced uses of
Single Ledger, Displaying Ledger and Altering Multiple
Ledger.

AF 29
 iv. Inventroy : Creation of Group and Creation of Stock
v. Vouchers in Tally
1. Pre-defined Vouchers: Contra Voucher, Sales Voucher,
Payment Voucher, Receipt Voucher, Journal Voucher,
Memo, Optional Vouchers and Post-dated Voucher
2. Configuring Vouchers, Creating/Customizing Vouchers,
Displaying Vouchers, Altering Vouchers
vi. Bank Deposit : Filling and Check Preparation and Bank
Reconciliation
vii. Depreciation : Fixed Installment Method, Reducing
Balance Method and Change in Method
viii. Reports : Trail Balance, Balalnce Sheet, Profit and Loss
Account, Bank Reconciliation Statement
1.1.6 BUSINESS COMMUNICATION : Paper
1. Nature and Process of Communication
a. Concept of Communication
b. Definitions of Communication
c. Process of effective Communication
d. Elements of Communication
e. Importance of Communication in Corporate World
2. Methods of Communication:
a. Nature and Definition of verbal communication
b. Oral Communication, Definition, Advantages and
Disadvantages
c. Written Communication, Definition, Advantages and
Disadvantages
d. Guidelines for Making Verbal Communication
e. Non-verbal Communication: Facial Expressions, Gestures,
Postures, Eye-Contact and Silence
3 Dimensions of Corporate Communication:
a. Corporate World and Communication
b. Nature of Hierarchy in Corporate World
c. Downward Communication: Definition, lllustrations, Merits
and Demerits

30 AF
 d. Upward Communication: Definition, lllustrations, Merits and
Demerits
e. Horizontal Communication : Definition, lllustrations, Merits
and Demerits
f. Vertical Communication: Definition, lllustrations, Merits and
Demerits
g. Grapevine Communication: Definition, lllustrations, Merits and
Demerits
4. Listening and Communication
a. Nature and Definitions of Listening
b. Importance of Effective Listening in Communication
c. Active and Passive Listening
d. Barriers at Effective Listening
e. Guidelines of Effective Listening
1.1.7. FOUNDATION COURSE – I :
Commercial Environment - Paper I
1. Concepts
a. Trade
b. Commerce
c. Business
d. Industry
e. Profession
f. Employment
1.2 Ecology and Business
a. Meaning of environment
b. Ecology and ecology balance
c. Relationship between ecology and business
d. Protection of environmental and need for Pollution
control
e. Environment audit
1.3 Social Responsibilities of Business
a. Concept of social responsibilities
b. Cases for and against social responsibilities

AF 31
1.4 Business Ethics
a. Concept and need
b. Principles of business ethics
2. Business and basic commercial information:
2.1 Managerial Response to Change in Business Environment
a. Management Information System (MIS)
b. Forecasting
c. Experts
d. Innovation
e. Acquisition
f. Merger
g. Joint venture etc.
2.2 Commercial Terms
a. Services
b. Outstanding
c. E-Commerce
d. M-Commerce
e. Infrastructure
f. Bank Assurance
g. Liberalizations
h. Privatization
i. Globalization
j. Profit
3. Business and Basic Accounting Information
a. Meaning and objectives Accounting
b. Accounting as a source of information
c. Internal and external users of Accounting Information and
their needs
d. Basic accounting terms – Assets, Liability, Capital,
Expenses, Income, Expenditure, Revenue, Debtors,
Creditors, Goods, Stock, Voucher, Transaction, Drawings
4. Basic Economic Challenges
a. Poverty – Absolute and relative

32 AF
 b. Rural Development Key Issues – Credit and Marketing,
Co-operatives, Farming, Organic Farming, Alternatives to
Farming
c. Employment – Concept Problems and policies
d. Infrastructure – Concept, Types and Problems a Critical
Assessment
5. Organization, Management and Administration
a. Organization – Concept and and Features
b. Management – Concept and Features
c. Difference between organization and management.
d. Administration : Concept and Features

FIRST YEAR – SEMESTER II

1.2.1 FINANCIAL ACCOUNTING Special Accounting Areas - PAPER II

1. Departmental Accountants :
Meaning
Basic of Allocation of Expenses and Incomes / Receipts
Inter Departmental Transfer : At Cost Price and Invoice Price
Stock Reserve
Departmental Trading and Profit and Loss Account and Balance
Sheet
2. Branch Accounts
Meaning / Classification of Branchers
Accounting for Dependent Branch Not Maintaining Full Books
Debtors Method
Stock and Debtors Method
3. Accounting for Hire Purchase
Meaning
Calculation of Interest
Accounting for Hire Purchase Transactions by Asset. Purchase
Method Based on Full Cash Price
Journal Entries, Ledger Accounts and Disclosure in Balance
Sheet for Hirer and Vendor
(Excluding Default, Repossession and Calculation of Cash Price)

AF 33
4. Consignment Accounts
Accounting for Consignment Transactions
Valuation of Stock
Invoicing of Goods at Higher Price
(Excluding Overriding Commission, Normal / Abnormal Losses)
1.2.2. AUDITING : Introduction and Planning - Paper I
1. Introduction to Auditing
1.1 Basics
Financial Statements, Users of Financial Information, Definition of
Auditing Objectives of Auditing - Prinary and Secondary, Expression
of Opinion, Detection of Frauds and Errors, Inherent Limitations of
Audit
1.2 Errors and Frauds
Concepts, Reasons and Circumstances, Types of Errors -
Commission, Omission, Principle and Compensating, Types of
Frauds, Risk of Fraud and Error in Audit, Auditor’s Duties and
Responsibilites in Respect of Fraud
1.3 Principles of Audit
Integity, Objectivity, Independence, Confidentiality, Skills and
Competence, Materiality and Work Performed by Others,
Documentation, Planning, Audit, Evidence, Accounting System and
Internal Control, Audit Conclusions and Reporting
1.4 Types of Audit
Meaning, Advantages and Disadvantages of Balance Sheet Audit,
Interim Audit, Continuous Audit, Concurrent Audit, Annual Audit
1.5 Miscellaneous
Advantages of Independent Audit, Qualities of Auditors, Auditing Vs
Accounting, Auditing Vs Investigation, View the Concept True and
Fair
1.6 Accounting Concepts Relevant to Auding
Materiality, Going Concern
2 Audit Planning: Procedures and Documentation
2.1 Audit Planning
Meaning, Objectives, Factors to be Considered, Sources of Obtaining
Information, Discussions with Client, Overall Audit Plan

34 AF
2.2 Audit Programme
Meaning, Importance to be Considered, Advantages, Disadvantages,
Overcoming Disadvantages, Methods of Work, Instruction before
Commencing Works of Audit, Overall Audit Approach
2.3 Audit Working Papers
Meaning, Importance, Factors Determining Form and Content, Main
Functions / Importance, Features, Contents of Permanent Audit
File, Temporary Audit File, Ownership, Custody, Access of Other
Parties to Audit Working Papers, Auditors Lien on Working Papers,
Auditors Lien on Client’s Books
2.4 Audit Notebook
Meaning, Structure, Contents, General Information, Current
information and Importance
3. Auditing Techniques
3.1 Test Check
Test Checking Vs Routing Checking, Test Check Meaning, Features,
Factors to be Considered, When Text Checks can be Used,
Advantages, Disadvantages and Precautions.
3.2 Audit Sampling
Audit Sampling, Meaning, Purpose, Factors in Deternining Sample
Size - Sampling Risk, Tolerable Error and Expected Error, Methods
of Selecting Sample Items Evaluation of Sample Result Auditors
Liability in Conducting Audit based on Sample
3.3 Internal Control
Meaning and Purpose, Review of Internal Control, Advantages,
Auditors Duties, Review of Internal Control, Inherent Limitations of
Internal Control, Internal Control Samples for Sales and Debtors,
Purchases and Creditors, Wages and Salaries
3.4 Internal Checks Vs Internal Control, Internal Vs Test Checks
4 Internal Audit
4.1 Meaning Basic Principles of Establishing Internal Audit, Objectives,
Evaluation of Internal Audit by Statutory Auditor, Usefulness of Internal
Audit
4.2 Internal Audit Vs External Audit, Internal Checks Vs Internal Audit

AF 35
1.2.3. Financial Management Inroduction to Financial
Management - Paper I
1. Introduction to Financial Management
a. Introduction
b. Meaning
c. Importance
d. Scope and Objectives
e. Profit vs Value Maximization
2. Concepts in Valuation
a. The Time Value of Money
b. Present Value
c. Internal Rate of Return
d. Bonds Returns
e. The Returns from Stocks
f. Annuity
g. Techniques of Discounting
h. Techniques of Compounding
3. Investment Decisions
a. Introduction
b. Purpose of Capital Budgeting
c. Capital Budgeting Process
d. Types of Capital Investmnet Decisions
e. Project Cash Flows and Net Profit Approval
f. Basic Principle of Measuring Project Cash Flows: Increment
Principle, Long Term Funds Principle, Exclusion of Financial
Cost Principle, Post Tax Principle, Probability Technique for
Measurement of Cash Flow
g. Capital Budgeting Techniques (Only Time Adjusted /
Discounted Cash Flows)
h. Capital Rationing
(Note : Problems on Computation of CAsh Inflow, Ranking of Projects on
Vorious Techniques, Selection and Anclysis with/without Capital
Rationing, (Excluding Comporision of IRR with Required Rate of

36 AF
 Return i.e. Cut off Rate, IRR and Mutually Exclusive Projects with
Unequal Lives, Multiple IRR)
4. Types of Financing
a. Introduction
b. Needs of Finance and Sources : Long Term, Medium Term,
Short Term
c. Long Term Sources of Finance
d. Short Term Sources of Finance
5. Cost of Capital
a. Introduction
b. Definition and Importance of Cost of Capital
c. Measurement of Cost of Capital
d. WACC
1.2.4. TAXATION : Indirect Taxes Paper I
1. Maharashtra Value Added Tax (MVAT), Act 2002:
Introduction
1.1 Definitions
Section
2 (4) Businesses
2 (8) Dealers
2 (12) Goods
2 (13) Importer
2 (15) Manufacturer
2 (20) Purchase Price
2 (22) Resale
2 (24) Sales
2 (25) Sales Price
2 (27) Service
2 (33) Turnover of Sales and Rule 3
1.2 Incidence of Levy of Tax
Sec. 3 Incidence of Tax
Sec. 4 Tax Payable

AF 37
 Sec. 5 Tax Not Leviable on Certain Goods
Sec. 6 Levy of Sales Tax on Goods specified in the Schedule
Sec. 7 Rate of Tax on Packing Material
Sec. 8 Certain sale and Purchase not Liable for Tax
1.3 Payment of Tax and Recovery
Section : 42 - Composition of Tax and Notification 1505/CR-105/
Taxation-1
1.4 Set Off, Refund, etc.
Section 48 and 49 Set Off, Refund etc. Along with Rules
52,53,54,55
2 Maharashtra Value Added Tax (MVAT), Act 2002:
Registration Procedure and Rules: Section 16
3 Maharashtra Value Added Tax (MVAT), Act 2002:
Audit Section 22 and 61
4 Maharashtra Value Added Tax (MVAT), Act 2002:
Penalty and Interest
Notes:
1. The Syllabus is Restricted to Study of Particular Sections,
Specifically Mentioned Rules and Notifications Only.
2. All Modules / Units include Computational Problems / Case
Study.
3. The Law in force on 1st April Immediately Preceding the
Commencement of Academic year will be Applicable for Ensuing
Examinations.
1.2.5 BUSINESS LAW : Business Regulatory Framework - Paper I
1. Law of Contract 1872
a. Nature of Contract
b. Classification of contracts
c. Offer and Acceptance
d. Capacity of Parties to Contract
e. Free consent
f. Consideration
g. Legality of object

38 AF
 h. Agreement Declared Void
i. Performance of Contract
j. Discharge of Contract
k. Remedies for breach of contract
l. Indemnity
m. Guarantee
n. Bailment and Pledge
o. Agency
2. Sale of Goods Act 1930:
a. Formation of Contract of sale
b. Goods and their Classification
c. Price, Conditions and Warranties
d. Transfer of Property in Goods
e. Performance of the Contract of Sales
f. Unpaid Seller and his Rights
g. Sale by Auction
h. Hire Purchase Agreement
3. Negotiable Instrument Act – 1881
a. Definition of Negotiable Instruments
b. Features of Negotiable Instruments
c. Promissory note
d. Bill of exchange and cheque
e. Holder and holder in the due course
f. Crossing of a cheque
g. Types of crossing, Negotiation
h. Dishonor and discharge of negotiable instruments
4. The Consumer Protection Act 1986:
a. Salient features
b. Definition of consumers
c. Deficiency in Service
d. Defects in Goods

AF 39
1.2.6 QUANTITATIVE METHODS FOR BUSINESS I:
1. Functions :
a. Constant Function, Linear and Quadralic Functions
b. Business and Economic Functions Such as Demand,
Supply, Revenue, Cost, Average Cost and Profit Functions
c. Equilibrium Point
d. Break Even Analysis
2. Mathematics of Finance
a. Simple and Compound Interest
b. Annuities, its Present and Future Values
c. Sinking Fund
d. Depreciation of Assets
3. Introduction to Statistics
a. Meaning, Scope and Limitations of Statistics
b. Concepts such as - Population, Sample, Variate, Attribute,
Parameter, Statistic
c. Types of Date : Discrete and Continuous Data, Primary and
Secondary Data
4. Presentation of Data
a. Frequency Distribution and Cumulative Frequency Distribution
Tables
b. Graphical Presentation of Frequency Distributtion by
Histogram, Frequency Polygon, Frequency Curve
c. Diagrammatic Representation using Multiple and Percentage
Bar Diagrams
5. Analysis of Quantitative Date
5.1 Measures of Central Tendency
a. Requirements of Good Average
b. Arithmetic Mean, Mode, Median, Deciles and Quartiles
c. Comparison of Mean, Mode and Median as Measures of
Central Tendency
5.2 Measures of Dispersion
a. Range, Quartile Deviation and Mean Absolute Deviaton
b. Standard Deviation

40 AF
 c. Coeffcient of Variation
6. Index Numbers
a. Concepts of Index Numbers
b. Simple and Composite Price Index Numbers
c. Laspeyre’s Paasche’s Fisher’s, Marshall-Edgeworth’s and
Dorbish-Bowley’s Index Numbers
d. Cost of Living Index Number
e. Concept of Real Income
f. Uses of Index Numbers
1.2.7 BUSINESS COMMUNICATION - Paper II
1. Barriers to Effective Communication in Corporate World
a. Nature and Definitions of Barrier
b. Physical Barriers
c. Psychological Barriers
d. Semantic Barriers
e. Measures for Removal of Barriers
2. Theory and Practice of Business Correspondence
a. Parts of Business Letter
b. Layouts of Business Letter
c. Principles of Effective Letter Writing
d. Email Writing Etiquetters
e. Types of Letter : Letter of Application with Resume, Letter of
Inquiry, Letter of orders, Letter of Collection, Letter of
Complanct and Letter of Sales
3. Interviews
a. Nature and Definitions of Interview
b. Types of Interviews
c. Application of WASP Technique
d. Preparations made by the Interviewer
e. Preparations made by the Interviewee
f. Commonly Asked Questions in the Interview
4. Presentations
a. Principles of Effective Presentation

AF 41
 b. Do’s and Don’ts of Effective Presentation
c. Effective Use of OHP
d. Effective Use of Power Point Presentation
e. Guidelines for Effective Presentation

II Year - THIRD SEMESTER

2.3.1. Financial Accounting Paper – III (Special Accounting Areas)

1. Partnership Final Accounts based on Adjustment of Admission
or Retirement / Death of Partner daring the Year
Simple final accounts questions to demonstrate the effect on final
Accounts when a partner is admitted during the year or when partner
Retires / dies during the year
Allocation of gross profit prior to and after admission / retirement /
death when stock on the date of admission / retirement is not given
and apportionment of other expenses based on time / Sales/other
given basis
Ascertainment of gross profit prior to and after admission/retirement/
death when stock on the date of admission / retirement is given and
apportionment of other expenses based on time / Sales / other given
basis
Excluding Questions where admission / retirement / death takes place
in the same year
2. Piecemeal Distribution of Cash
Excess Capital Method only
Asset taken over by a partner
Treatment of past profits or past losses in the Balance sheet
Contingent liabilities / Realization expenses / amount kept aside for
expenses and adjustment of actual
Treatment of secured liabilities
Treatment of preferential liabilities like Govt. dues / labour dues etc
Excluding : Insolvency of partner and Maximum Loss Method
3. Amalgamation of Firms
Realization method only

42 AF
 Calculation of purchase consideration
Journal/ledger accouonts of old firms
Preparing Balance sheet of new firm
Adjustment of goodwill in the new firm
Realignment of capitals in the new firm by current accounts / cash or
a combination thereof
Excluding : Common transactions between the amalgamating firms
4. Conversion / Sale of a Partnership Firm into a Ltd. Company
Realisation method only
Calculation of New Purchase consideration, Journal / Ledger
Accounts of old firms, Preparing Balance sheet of new company
5. Accounting with the Use of Accounting Software
Cost Centre, Cost Categories
Inventory - Creation of groups, Creation of stocks, Stock Categories
Inventory voucher-Stock Journal, Manufacturing Journal, Godown
Managemnt, Batch wise Management
2.3.2 Cost Accounting Paper II – (Method of Costing)
1. Classification of Costs and Cost Sheet
Classification of costs, Cost of Sales, Cost Centre, Cost Unit, Profit
Centre and Investment Centre
Cost Sheet, Total Costs and Unit Costs, Dirrerent Costs for different
purpose Simple parctical problems on preparation of cost sheet
2. Reconciliation of cost and financial account
Practical problems based on reconciliation of cost and Financial
accounts
3. Contract Costing
Progress payment, Retention money, Contact accounts, Accounting
for material, Accounting for Tax deducted at source by the contractee,
Accounting for plant used in a contract, treatment of profit on incomplete
contracts, Contract profit and Balance sheet entries.
Excluding Escalation clause
Note-Simple practical problems

AF 43
4. Process Costing
Process loss, Abnormal gains and losses, Joint products and by
products.
Excluding Equivalent units, Inter-process profit
Note-Simple Practical problems Process Costing and joint and by
products
2.3.3. Auditing Paper II – (Techniques of Auditing & Audit
Procedures)
1. Vouching
1.1 Audit of Income
Revenue from Sales and Services, Rental Income, Interest & Dividends
Income, Royalties Income, Recovery of Bad debts written off,
Commission Received.
1.2 Audit of Expenditure
Purchase, Sharies & Wages, Rent, Insurance Premium, Telephone
expense, Petty cash payment, Advertisement, Travelling Salesmen’s
Commission, Freight Carriage and Custom Duties
2. Auditing Techniques : verification
2.1 Audit of assets
Plant & Machinery, Furniture and fixtures, Accouts Receivable,
Investments, Inventory, Goodwill, Patent Rights
2.2 Audit of Liabilities
Outstanding Expenses, Accounts Payable, Secured loans, Unsecured
Loans, Contingent Liabilities, Public Deposits
3. Audit and Asurance Standards
3.1 Significance of the Audit and Assurance Standards issued by Institute
of Chartered Accountants of India.
Responsibility of auditor for AAS
3.2 Understanding of following standards
SA 200 Basic principles of Governing an Audit
SA 200A Object and scope of the audit of financial statements
SA 230 Audit documentation
SA 320 Audit materiality
SA 570 Going Concern

44 AF
4. Audit of Limited Companies
4.1 Qualification, Disqualifications, Appointments (First & Subsequent
auditor), Reappointment, Removal of auditors.
2.3.4 Economics – Paper II (Macro Economics)
1 Macroconomics : Nation Income, Theory of Income and
Employment
National Income: Concept and Measurement - Real Vs Nominal GNP
- PPP
Income - Circular Flow of Income: Closed (two and three sector models)
and Open Economy Models - Trade Cycles: Featurees and Phases -
Concept of Aggregate Damand - Keynes’ Theory of Income
Determination - Theory of Multiplier - Acceleration Principle
2 Monetary Economics
Supply of Money : Concept, Constituents and Determinants of Money
Supply - Velocity of Circulation of Money : Meaning and Factors
Determining - Demand for Money : Keynes’ Theory of Demand for
Money - Liquidity Preference Theory of Rate of Interest - Inflation : -
Demand Pull and Cost Push Inflation - Causes, Effects and Measures
to Control Inflation.
3 Integration of Product and Money Market Equilibrium
Monetary Policy : Objectives and Instruments - Fiscal Policy :
Objectives and Instruments - IS-LM Model: Framework, Impact of Fiscal
and Monetary Policy Changes.
4 Public Finance
Concept of Public Finance : Meaning, Scope and Functions - Distinction
between Public and Private Finance - Principles of Maximum Social
Advantage: Dalton & Musgrave versions - Modern Trends in Public
Finance : Sound Finance v/s Functional Finance, Redistribute Taxation,
Anti-Inflationary Taxation - Public Revenue: Source of Revenue (Tax &
Non - Tax Revenue) - Merits and Demerits of Direct & Indirect Tax-
Public Expenditure : Classification and Causes of increase in Public
Expenditure - Public Dept : Types, Burden and Management- Concepts
of deficit.
5 International Trade, Balance of Payment and WTO
Theories of International Trade : Comparative Cost Theory, Hecksher -
Ohlin - Theory - Terms of Trade : Meaning & Types - Gains from Trade
(with offer curves) - Concept & Structure of BOP, Causes of

AF 45
 disequilibrium, Measures to correct disequilibrium in BOP - WTO
Agreements with reference to TRIPS. TRIMS and GATS
6 Foreign Exchange Market
Concept of Foreign Exchange Rate : Spot and Forward, Foreign
exchange market: Functions & Dealers - Arbitrage and Speculation -
Equilibrium Exchange Rate Determination - Purchasing Power Parity
theory - Types of Floating Rate System.
2.3.5 Business Law – Paper II (Business Regulatory Framework)
1 The Indian Partnership Act - 1932
a. Concept of Partnership
- Partnership and Company
- Test for determination of existence for partnership
- Kinds of Partnership
b. Registration and effects of non-registration of Partnership
c. Rights and Duties of Partners
d. Authority and Liability of partners
e. Admission, Retirement and Expulsion of Partner
f. Dissolution of Partnership
2. Limited Liability Partnership Act - 2008
a. Concept, Formation, Membership and Functioning of Partnership
b. Dissolution of Partnership
3. Factories Act - 1948
a. Definitions
• Section 2 (k) - Manufacturing Process,
• Section 2 (l) - Workers
• Section 2 (m) - Factory
b. Provisions pertaining to
i. Health - Section 11 to Section 20
ii. Safety - Section 21 to Section 41
iii. Welfare - Section 42 to Section 49
2.3.6. Management – Paper II (Introduction of Management)
1 Introduction to Basic Management Concepts

46 AF
1.1 Introduction to Management, Difinition of Management
1.2 Nature of Management
1.3 Objectives of Management
1.4 Administration vs Management
1.5 Levels of Management
1.6 Principles of Management
2. Planning
2.1 Definition and Importance of Planning
2.2 Process of Planning
2.3 Limitations of Planning
2.4 Features of Sound Planning
2.5 Features and process of decision making
3. Organising
3.1 Definition, nature and significance
3.2 Process of organisation
3.3 Principles of organisation
3.4 Formal and Informal organisation - features, advantages and
disadvantages
3.5 Centralisation and decentralisation - factors, merits and demerits
3.6 Departmentation and Delegation
4. Staffing
4.1 Meaning, Importance of Staffing
4.2 Recruitment and its sources
4.3 Selection procedure
4.4 Distinction between Recruitment and Selection
4.5 Employment tests and types of interview
5. Directing and Controlling
5.1 Meaning and Importance of directing
5.2 Principles of Directing
5.3 Leadership trails and Styles
5.4 Motivation - Importance and Factors
5.5 Co-ordination-Meaning, features and Importance

AF 47
5.6 Meaning and steps in controlling
5.7 Essentials of a good control system
2.3.7 Quantitative Methods for Business - Paper II
1. Decision Theory
1.1 Introduction to Probability - Definition of Sample space & Event,
probability of an event and simple examples. (No question to be asked
in exam)
1.2 Element of Decision Problem : Concepts such as decision making,
Decision maker, Courses of action, States of nature, Pay-off values,
Pay-of Table, Opportunity Loss Table.
1.3 Decision Making process and decision making categories
1.4 Decision Making Environments
a. Decision Making under Certainty
b. Decision Making under Uncertainty - Criterions such as Maximin,
Minimax, Maximax, Laplace, Hurwicz Alpha, Regret.
c. Decision Making under Risk - Criterions such as EMV, EOI and
EVPI
1.5 Decision Tree techniques - Concept of Decision Tree and Examples.
2. Linear Programming Models
2.1 Mathematical formulation and graphical solution of Linear Programming
Problems.
2.2 Standard Liner Programming form - slack and surplus varables
2.3 Determination of Basic Feasible solution: Simplex Method - The Big
“M” Method Two phase Method.
2.4 Special cases in Simplex method - Alternative optima, unbounded
solutions. Infeasible solutions, Degeneracy
3. Transportation Models
3.1 Introduction, Characteristics and Assumptions
3.2 Solution of Transportation Problem using
a. North - West Corner Method
b. MODI Method
c. Least - Cost Method
d. Vogels Approximation Method
3.3 Unbalanced Transportation Problem, Degeneracy in Transportation
Problem

48 AF
4. Assignment Models
4.1 Introduction, Characteristics and Assumptions
4.2 Formulation of an Assignment Problem
4.3 Hungarian Method
4.4 Variation of the Assignment Problem

II YEAR - FOURTH SEMESTER

2.4.1. Financial Accounting – Paper IV (Special Accounting Areas)

1. Preparation of Final Accounts of Companies
i Relevant Provisions of Companies Act related Final Account
(excluding cash flow statement_
ii Preparation of profit and loss a/c and balance sheet as per revised
schedule VI of - Companies act 1956
iii AS 1 in relation to final accounts of companies (disclosure of
accounting policies)
2. Redemption of Debentures
i Redemption of debentures by payment from source including out of
capital and / or out of profits.
ii Sources of redemption including devisible profits and proceeds of
fresh issue of shares
iii Debenture redemption from security premium and profits of company
3. Redemption of Debentures
i Redemption of debentures by payment from sources including out
of capital and / or out of profits.
ii Debenture redemption reserve and debenture redemption sinking
fund excluding insurance policy.
iii Redemption of debentures by conversion into new class of shares
or debentures with obtaions - including at par, premium and discount.
4. Assertainment and Treatment of Profit to Incorporation
i Principles for ascertainment
ii Preparation of separate, combined and columnar profit and loss
a/c including different basic of allocation of expenses/incomes

AF 49
5. Accounting with the Use of Accounting Software
Advance accounting and Inventory Vouchers : Purchase and Sales
Order,
Reorder, Delivery Notes,
Budgeting and Controls,
Invoice-Product Invoice and Service Invoice
Shortcut Keys: Special key Combination, Special Functional key
Combination
Management Information System (MIS)

2.4.2. Management Accounting – Paper I )Introduction to

Management Accounting)
1. Introduction to Management Accounting
Meaning - Nature - Scope and Functions of Management Accounting -
Role of Management Accounting in Decision Making - Management
Accounting and Financial Accounting
A. Analysis and Interpretaion of Accounts:
a. Vertical Forms of Balance sheet and PRofit and Loss Account
suitable for analysis
b. Trend Analysis
c. Comparative Statement
d. Common Size Statement
2. Ratio Analysis and Interpretation
(Based on Vertical Financial statements as above -
a. Balance Sheet Ratios:
i Current Ratio
ii Liquid Ratio
iii Stock Working Capital Ratio
iv Proprietary Ratio
v Debt Equity Ratio
vi Capital Gearing Ratio
b. Revenue Statement Ratios
i Gross Profit Ratio
ii Expenses Ratio

50 AF
 iii Operating Ratio
iv Net Profit Ratio
v Net Operating Profit Ratio
vi Stock Turnover Ratio
c. Combined Ratios
i Return on Capital employed (including Long Term Borrowings);
ii Return on proprietor’s Fund (Shareholders Fund and Preference
Capital)
iii Return on Equity Capital
iv Dividend Pay out Ratio
v Debt Service Ratio
vi Debtors Turnover
vii Creditors Turnover
3. Preparation of Cash Flow Statement with reference of
Accounting Standard No. 3 (Indirect method only)
4. Working Capital-Concept
Estimation/Projection of Working Capital Requirements in case of
Trading and Manufacturing Organization
2.4.3 Taxation Paper II (Indirect Taxes)
1 Central Excise Law
1.1 Basic Concepts: (Central Excise Act)
• Goods / Excisable Goods – S:2(d)
• Manufacture S:2(f)
• Manufacturer S:2(f)
• Factory S:2(d)
• Taxable Event
1.2 Classification (Central Excise Tariff Act)
C.E.T.A – Schedule I, Rules of interpretation, Trade Parlance theory,
H S N Theory, Tariff Code-Dash System
1.3 Types of duties (Central Excise Act)
Specific Duty, Ad-Velorem, Cesses-NCCD, EC, SAH EC, Compounded
Levy

AF 51
1.4 Valuation
Assessable Value (Central Excise Act): S:4(1), Tariff Value, Transaction
Value, Valuation Rules, MRP Based Value
1.5 Cenvat Credit (Cenvat Credit Rules)
Terms
Input, Capital goods, Eligible Duties, Eligible Documents, Utilization
of credit
1.6 Procedures
Registration in-EC Code Form A I (Sec:6), Record & Registers-D.S.A.,
P.L.A. Cenvat Crdit Invoice – Rule 11, Return – ER 1, Tax Payment
Challan TR-6 / GAR 7
2. Service Tax
2.1 Basic Terms
Terms - Service, Activity, Consideration, Person, Declared Services
Applicability of Service Tax
Registration under Service Tax law (Sec 69)
Registration Procedure
Mega Exemption from Service TAx under notification 25/2012, Threshod
Exemption
Service Tax Returns and Penalty for late filing
Payment of service tax and rateof service tax
Negative List (Sec 66 D Specifies services which are not taxabic)
2.2 Services Specifically Excluded
Transfer of title in goods or immovable property
Transfer delivery or supply of any goods which is deemed sale
Transations on money or actionable claims
Provision of service by employee to employer
Duties preferred by persons who hold posts in pursuance of provision
of constitution e.g. Central Vigilance Committee
Duties performed as a chairperson or member or director in body
established by central, state Govt. or local authority
2.3 Point of Taxation
Determination of point of taxation

52 AF
 Point of taxation for services including continuous supply of services
from 1.4.2012
Special provision for individual
Note : The Law in force on 1st April immediately preceding the
commencement of Academic year will be applicable for
ensuing Examinations.
2.4.4. Commerce Paper – II (Financial Market Operations)
1. Debt Market
Introduction, various debt instruments, valuation of bonds
2. Equity Market
Primary Market for equities, secondary markets for enquities,
development of equity markets in India
3. Commodities Market
Introduction Growth of commodity markets in India
4. Derivatives Market
Meaning of financial derivatives; futures and options, Principles of
hedging with options and futures Management of risk in commodities
markets
5. Global Financial Markets
Impact of globalisation on capital markets, global bonds markets, global
equity markets
2.4.5. Business Law – Paper III
(Company Law - The companies Act 2013)
1. Definitions
Section 2
Clause (2) - Accounting Standard
Clause (7) - Auditing Standard
Clause (13) - Books of Accounts
Clause (31) - Deposit
Clause (41) - Financial Year
Clause (42) - Foreign Company
Clause (47) - Independent Director
Clause (48) - Indian Depository Receipts
Clause (62) - One Person Comapny
Clause (85) - Small Company

AF 53
2. Incorporation of Companies - Section 3 to Section 20
3. Public Offer - Sections 23, 25 to 28, 33, 35, 39
4. Private Placement - Section 42
5. Share Capital and Debentures - Sections 43, 46, 47, 52 to 56,
61 to 72
2.4.6. Information Technology – Paper II (Applications in Business)
1. Introduction to Internet and other emerging technologies
Introduction – Internet components – electronic commerce – e-
commerce applications – Electronic Data Exchange – Extranet –
Payment systems – Risks and security considerations – Legal issues
– Other emerging technologies
2. Development Tools
Introduction to LAAT and usage in Accounting / Audit, Audit
methodologies in a computerized environment – Computer Assisted
Audit Technologies – Audit Software – Test Data – Miscellaneous
Techniques – Other Audit software – Steps involved in using CAAT
3. Cyber laws and Information Technology Act 2000
a. PAN Application
b. TAN Application
c. MVAT Registration
d. Service Tax Registration
2.4.7. Foundation Course - II
Value Education and Soft Skill
1. Values and the Individual
Values meaning - The Significance of values - Classfication of Values -
Need of Value Education - Values and the individual : Self Discipline,
Self Confidence, Self-Initiative, Empathy, Compassion, Forgiveness,
Honesty and Courage
2. Values and Society
Definition of Society - Democracy - Secularism - Socialism - Gender
Justice - Human Rights - Socio - Political Awareness - Social
Integration - Social Jistice
3. Professional Values
Definition - Accountabilitiy- Willingness to learn - Team Spirit -
Competence - Development - Honesiy - Transparency - Respecting
Others - Democratic Functioning - Integrity and Commitment

54 AF
4. Role of Social Institutions in Value Formation
Role of Family - Peer Group - Soceity - Educational Institutions - Role
Models and Mass Media in value formation
5. Soft Skill for effective Interpersonal Communication
a. Effective listening - Importance and Features
b. Verbal and Non-Verbal Communicationm Public Speaking and
Presentation Skills
c. Leadership Skills - Self Improvement
d. Preparing for group discussion and interview
THIRD YEAR SEMESTER V
3.5.1. Financial Accounting Paper – V
Topics
1. AS - 14 - Amalgamation, Absorption & External Reconstruction
(excluding intercompany holding)
In the nature of merger and puchase with corresponding accounting
treatments of pooling of interest and purchase method respectively.
Meaning and Computation of purchase consideration.
Inter-company debtors, creators, loan, loading in stock.
2. Internal Reconstruction
Need for reconstruction and company law provision
Distinction between internal and external reconstructions.
Methods including alteration of share capital, variation of shareholder
rights, sub division, consolidation, surrender and reissue / cancellation,
reduction of share capital with relevant legal provisions and accounting
treatment for same.
3. Underwriting of shares & debentures
Introduction, Underwriting , Underwriting Commission
Provision of Companies Act with respect to Payments of underwriting
commission
Types of underwriting. Abatement applications.
Marked, Unmarked and Firm-underwriting applications.
Liability of the underwriters in respect of underwriting contract.
Practical problemsm
4. Liquidation of Companies
Meaning of liquidation or winding up
Preferential payments
Overriding preferential payments
Preparetion of statement of affairs, deficit / surplus account
Liquidator’s final statement of account

AF 55
5. Buy Back of Shares
Company Law / Legai provisions (including related restrictions, power,
transfer to capital redemption reserve account and prohabitions)
Compliance of conditions including sources, maximum limits and debt
equity ratio.
Cancellation of Shares Bought back
(Excluding Buy Back of minority shareholding)
3.5.2. Cost Accounting Paper – III
Topics
1. Uniform Costing and Inter-Firm Comparison
Uniform Costing
Meaning of and need for uniform costing.
Essential for success of uniform costing.
Advantages and limitations of uniform costing.
Areas of Uniformity, Uniform cost manual.
Simple practical problems.
Inter-Firm Comparison
Pre requiisites or inter firm comparison.
Advantages and limitations.
Simple practical problems
2. Integrated System and Non Integrated System of Accounts
Integrated System
Meaning
Advantages and disadvantages
Distinctive features.
Journal entries.
Simple practical problems
Non-Integrated System
Meaning
Advantages and disadvantages
Distinctive features.
Cost control accounts to be prepared
Simple practical problems
3. Operating Costing
Meaning of operating costing
Determination of per unit cost
Pricing of services
Collection of costing data.
Simple practical based on costing of hospital, hotel, goods and
passenger transport services.

56 AF
4. Process Costing-Equivalent Units of Production and Inter-process
Profit (FIFO Method)
Work in Progress and Equivalent Productions (FIFO Method)
Inter Process Profit
Simple practical problems
5. Introudction to Emerging concepts in costing
Target Costing
Activity Based Costing (ABC)
Product Life costing
Excluding Practical Problems
3.5.3. Financial Accounting Paper – II
Topics
1. Risk and Return
Introuction
Meaning of Return
Types of REturn-Holding Period Return, Annualized Return, Expected
Return
Types of Risk-Business Risk, Financial Risk, Interest Rate risk, Market
Risk and Liquidity Risk
(Including Practical Problems)
2. Leverage
Introduction
EBIT & EPS Analysis
Types of Leverages : Operating Leverage, Financial Leverage &
Composite
Leverage
Relationship between Operating Leverage and Financial Leverage
(Including Practical Problems)
3. Capital Structure Decisions
Meaning
Choice of Capital Structure, Improtance
Optimal capital Structure
EBIT-EPS Analysis
Cost of Capital, Capital structure and Market Price of Share
Capital Structure Theories
Dividend Policy - Payout RAtion
4. Cash Management
Introduction
Motices for holding cash
Aspects of cash management

AF 57
 Long terms cash forecasting
Reason for cash surplus
Cash managements : Basic strategies, Cash Management Techiques/
Processes, Marketable Securities
Marketable Securities
(Including Practical Problems)
5. Receivable Management
Introuction
Aspects of Receivable Management
Credit Policy, Credit Evaluation, Credit Granting decision, Control on
Accounts Receivable
(Including Practical Problems)
3.5.4. Taxation Paper - III
Topics
1. Definitions u/s - 2 & Basis of Charge
Definitions u/s - 2
Section 2 - Assessee, Assessment Year, Assessment, Annual value,
Business, Capital asset, Income, Person, Previous Year, Transfer
Basic of Charge
Section 3-9-Previous Year, Residential Status, Scope of Total Income,
Deemed Income
2. Exclusions from Total Income
Section 10-restricted to, Agricultural Income, Sums Received From
HUF By Member, Share of Profit from Firm, Casual & Non-Recurring
Receipts, Scholarships, Income of Minor Child, Allowance to Members
of Parliament and Legislative Assembly.
Note-Exemptions related to specific Heads of Income to be covered
with Relevant Provisions.
3. Heads of Income
Salary
Section 15 - 17, Including Section 10 relating to
House Rent Allowance, Travel Concession, Special Allowance, Pension-
Commutation, Leave Encashment, Compensation, Voluntary
Retirement, Payment from Provident Fund
Income From House Property
Section 22-27, Including Section 2 - Annual Value
Profits & Gains From Business & Profession
Vocation Section 28-32, 36, 37 40, 40A & 43B.
including : Section 2 - Business

58 AF
 Capital Gains
Section 45, 48, 49, 50, 54 and 55
Income from Other Sources
Section 56-59
4. Deductions under Chapter VI - A
80 A - Restriction on claim in Chapter VI-A deductions
80 C - Payment of LIC-PF and other eligible invesments
80CCC - Contribution to certain Pensions Fund
80D - Medical Insurance Premium
80DD - Maintenance and medical treatment of handicapped dependent
80E - Interest on Saving Bank account
80U - Deduction in the case of totally blind or physically handicapped
or mentally retarded resident person
5. Computation of Total Income
Computation of Total Income of Individual & HUF
3.5.5. Auditing Paper – III
Topics
1. Company Audit
Powers & Duties of Auditors, Liabilitics of Auditors
Branch Audit, Joint Audit, Special Audit, Tax Audit
2. Audit Report
Reports requirement under the Companies Act
Qualifications in Audit Report, Disclaimers in Audit Report
Adverse Opinion, Disclosures, Reports & Certificate
3. Audit under Computerized Information System Environment
Special aspects of CIS Audit Environment, Need for review of internal
control especially procedure controls and facility controls
Approach to audit in CIS environment
Use of computer for internal and management audit purposes
Audit tools, test packs, computerized audit programmes
Special aspects in Audit of E-Commerce Transaction
4. Professional Ethics
Code of Ethics with special reference to the relevant provisions of
The Chartered
Accountant Act, 1949 and the Regulations thereunder
The Chartered Accountant Act, 1949
Schedules
Members who are deemed to be in Practice
Significance who are deemed to be in Practice
Disabilities for purpose of Membership

AF 59
 Disciplinary Procedure
Professional Misconduct
3.5.6. Management Paper – II
Topics
1. Marketing Management
Meaning and Difinition of Marketing - 4 Ps of Marketing
Product Management - Meaning & Definition - Product Development
Strategies
Price Management - Meaning and Definition - Pricing Strategies
Place (Distrbution) Management - Meaning and Definition - Factors
Governing
Distribution Decisions - Types of Distribution Channels
Promotion Management - Meaning - Promotion Strategies
Case studies based on the above topics
2. Production Management
Meaning and Definition of Production Management– Scope of Production
Management - Production vs. Productivity
Meaning of Productivity -Measurement of Productivity Measure to
increase
Productivity – Productivity Movement in India
Meaning and Definition of Quality Management –TQM–Quality
Circles–ISO9000/14000
Inventory Management – Meaning and Methods
Case studies based on the above topics
3. Human Resource Management
Meaning and Definition of Human Resource Planning. Human Resource
Management and Human Resource Development
Process of Human Resource Planning
Scope of Human Resource Management
Methods of Developing Human Resource
Performance Appraisal - Meaning and Definition - Traditional and Modern
Methods of ppraisal - Self Appraisal - 3600 Appraisal
Case studies based on the above topics
4. Financial Management
Meaning and Definition of Financial Management - Functions of
Financial Management
Short-term and Lone - term Sources of Finance - Sources and Significance
Capital Market - Meaning and Constituents - Functions
Fundamental Analysis - Technical Analysis - Venture Capital -
DEMAT Account - Futures and Options
Case studies based on the above topics

60 AF
 III YEAR - SIXTH SEMESTER
3.6.1. Financial Accounting Paper – VI
Topics
1. Final Accounts of Banking Company
1. Legal provision in Banking Regulation Act, 1949 relating to Accounts.
2. Statutory reserves including Cash Reserve and Statutory Liquidity
Ratio.
3. Bill purchase and discounted rebate of bill discounted.
4. Final Accounts in prescribed form
5. Non-performing assets and Income from non-performing assets.
6. Classification of Advances, standard, sub-standard, doubtful and
provisioning requirement.
2. Final Accounting of Insurance Company (Excl. Life Insurance)
1. General Insurance-Various types of insurance like fire, marine,
Miscellaneous.
2. Special terms like premium, claims commission, Management
expense, Reserve for unexpired risk, reinsurance.
3. Final Accounts in a prescribed form, Revenue Statement – Form B-
RA, Profil/Loss Account-Form b-PL and Balance Sheet Form B – BS.
3. Investment Accounting (w.r.t. Accounting Standards - 13)
For shares (variable income bearing securities)
For debentures/Preference, shares (fixed income bearing securities)
Accounting for transaction of purchase and sale of investments with
ex and cum interest prices and finding cost of investment sold and
carrying cost as per weighted average method (Excl. brokerage).
Columnar format for investment account.
4. Accounting of Transactions of Foreign Currency
1In relation to purchase and sale of goods, services and assets and
lone and credit transactions.
Computation and treatment of exchange rate difference
5. Account for Limited Liability Partnership
Statutory provisions
Conversion of proprietary business into Limited Liability Partnership
Final accounts

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3.6.2. Cost Accounting Paper – IV
Topics
1. Budgeting and Budgetary Control
Meaning and objectives, Advantages and limitations of budgets.
Functional budgets, fixed and flexible budgets
Zero based budgeting, performance budgeting
Simple practical problems or preparing flexible budgets and functional
budgets.
2. Absorption Costing and Marginal Costing, Cost Volume and Profit
Analysis
Absorption Costing and Marginal Costing
Meaning of absorption costing.
Introduction to marginal costing
Distinction between absorption costing and marginal costing.
Advantages and limitations of marginal costing
Cost Volume and Profit Analysis
Break even analysis meaning and graphic presentation
Margin of safety
Key factor
Simple practical problems based on using the marginal costing formulae
3. Managerial Decision Making
Make or buy
Sales mix decisions
Exploring new markets
Plant shut down decision
Simple practical problems
4. Standard Costing and Variance Analysis
Preliminaries in installing of a standard cost system
Material Cost variance
Labour cost variance
Variable overhead variance
Fixed Overhead variances
Sales variances
Simple practical problems
3.6.3. Financial Management - Paper III
Topics
1. Financial Policy and Corporate Strategy
Meaning of strategic financial management
Strategic financial decision making framework

62 AF
 Functions of Strategic Financial Management
Financial Planning
2. Security Analysis
Fundamental analysis - Meaning, Dividend growth model and PE
multiple
Strategic financial decision making framework
Functions of Strategic Financial Management
Financial Planning
3. Dividend Decisions
Introduction of dividend policy
Practical considerations in dividend policy
Theories on dividend policy, Traditional position, Walter approach,
Gorden Growth approanch
Modigilani and Miller hypothesis
4. Mutual Funds
Introduction
Classification of MFs
Evaluating performance MFs, NAV, Costs incurred by MFs, Holding
Period Return
Criteria for evaluating the performance, Sharpe ratio, Treynor ratio,
Jensen’s ratio
5. Protfolio Theory
Activities in portfolio management
Objectives of portfolio management
Theories, Traditional approach, Modern approach
Portfolio analysis
3.6.4. Taxation Paper- IV
Direct Taxes - II
Topics
1. Clubbing of Income - Section 60 to 65
2. Set off & Carry Forward of Losses
Sec: 70 - Set off Loss from one Source against Income from another
Source under the Same Head of Income
Sec: 71 - Set off Loss from One Head against Income of another Head
Sec: 71B - Carry Forward & Set off Losses from House Property
Sec: 72 - Carry Forward & Set off of Losses of Business Losses
Sec: 73 - Carry Forward & Set off of Losses of Business Losses
Sec: 74 - Loss under the head Capital Gains

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3. Computation of Tax liability of Individual & HUF
4. Computation of Income of Partnership Firm in Relation to Sec:
40(b) & Tax Thereon with Applicable Rate to Tax
5. Return of Income - Sec 139
Excluding u/s 139(4A), 139(4B), 139(4C) & 139(4D)
6. Tax Deduction at Souree
Advance Tax U/S 207, 208, 209, 210 & 211
Interest Payable U/s 234A, 234B, 234C
Basic Payable of Deduction of Taxes at Source
Sec: 192 - TDS on Salary
Sec: 194A - TDS on Interest
Sec: 194C - TDS on Contractor
Sec: 194H - TDS on Commission
Sec: 194I - TDS on Rent
Sec: 194J - TDS on Professional Fees
Advance Tax U/S207, 208, 209, 210 & 211
Sec: 207 - Income Liable to Advance Tax
Sec: 208 - Liability of Advance Tax
Sec: 209 - Computation of Advance Tax
Sec: 210 - Payment of Advance Tax by Assessee on His Own
Account
Sec: 211 - Due Dates of Payment of Advance Tax
Interest Payable U/S 234A, 234B, 234C
Sec: 234A - Interest for default in furnishing return of income
Sec: 234B - Interest for default in payment of advance tax
Sec: 234C - Interest for deferment of advance tax
7. DTAA U/S 90 & 91
3.6.5. Financial Accounting - Paper VII
Topics
1. Valuation of Good will and Shares
Valuation of Goodwill
Maintainable Profit method, Super Profit Method
Capitalization method, Aonuity Method
Valuation of Shares
Intrinsic Value Method, Yield method and Fair Value Method
2. Final Account of Electricity Company
Final Accounts as per Double Account System
- Final Accounts as per Electricity Rules

64 AF
 - Receipt & Expenditure on Capital Account
- General Balance Sheet
- Contingency Reserve
Disposal of Surplus (As per Electricity Rules): Norms regarding Disposal
of Surplus Replacement of Assets
Simple practical problems
3. Final Accounts for Co-Operative Society
(Co-Operative Housing Society & Consumer Co-Operative Society)
Provisions of Maharashtra State Co-Operative Societies Act and rules
Accounting
Provisions including appropriation to various funds
Format of Final Accounts - Form N
Simple practical problems on preparation of final accouonts of a Co-
Operative housing society & Consumer Co-Operative Society
4. Foreign Branch
Conversion as per AS 11 and incorporation in HO accounts
5. Introduction to IFRS and Ind - AS
Purpose & Objective of financial statement-its Frame work-its
assumption, characteristics, element, recognition & measurement.
Convergence & first time adoption of IFRS
First time adaptation of Indian Accounting Standard
3.6.6. Economics Paper - III
Indian Economy
Topics
Introduction
1. Agricultural Sector
Introduction
Demographic features - Poverty, Income inequality and Unemployment
Urbanization and its effect

Agricultural Sector
Institutional Structure - Land reforms in India
Technological changes in agriculture
Agricultural pricing and agricultural finance
Agricultural marketing
National agricultural policy
2. Industrial Sector
Growth and pattern of industrialization

AF 65
 Industrial Policy of 1991. Public sector enterprises and disinvestment
policy
Small scale sector - problems and prospects
3. Service Sector
External Sector
Service Sector
Nature and scope of service industry
Recent trends in Banking industry, Insurance Industry, Healthcare
Industry and Tourism
Industrv
External Sector
Structure and directions of Foreign trade
India’s Balance of payments since 1991
FDI, foregin capital and transnational companies in India. Role and
impact of SAARC, ASEAN and WTO
4. Money and Banking
Money market and its features
Monetary policy of RBI
Progress of commercial banking in India
Development of capital markets
SEBI and its functions

66 AF
Co-ordinator
1 Mr. D.M. Murdeshwar
Full Time Faculty
2 Ms. Purva Gaikwad
3 Ms. Mugdha Y. Keskar
4 Ms. Sangita S. Mohanty
5 Ms. Mrunmayee R. Thatte
6 Ms. Neelam A. Shaikh
7 Mr. Vinod Chandwani
8 Mr. Nitin B. Pagi
9 Ms. Akshata A. Joshi
10 Ms. Archana S. Nair
11 Ms. Urmila G. Gawade
12 Mr. Mahesh M. Patil
13 Ms. Geetanjali Chiplunkar
14 Ms. Sindhu P. Natuvetty
15 Ms. Jharna K. Tolani
16 Ms. Mohini P. Kulkarni
17 Ms. Shefali M. Kondewar
18 Ms. Namrataa S. Srivastav
19 Ms. Trupti A. Kautikwar
20 Ms. Aditi R. Patgaonkar
21 Ms. Vimukta Raje
22 Ms. Mugdha Bapat
23 Ms. Neha Malkhare
AF
B. Sc. (Hons), LLM,DBM, CS (Int.)
B.Sc, B.Ed, MMS
B.Sc., B.Com., M.Com.
(Accountancy), M.Com.
(Marketing), M.Phil., A.C.M.A.,
CA (Inter), D.C.M. (JBLMS)
M.A., M.Phil., M.B.A (HR),
Diploma in Rural Development
M.Com., PGDHRM
M.Com., (Adv Accountancy),
B.Ed. PGDFM M.B.A. (Finance)
M.Com., B.Ed.M.Phil., M.B.A. (HR)
M.Com., C.S., CA(Inter)
M.Com., GDC&A
MBA (Finance)
M.Com., B.Ed., Dip in EXIM
M.A., M.J., GDC&A, D.B.M.,
D.M.M., D.D.(D.T.), C.C.C.
M.A. (Economics)
M.Com., M.Phil.
M.B.A., N.C.F.M. Certification
M.Sc. (Stats), M.Phil.
M.Com., M.B.A., M.C.M.
B.Sc., M.A., B.Ed.
B.Sc., (Comp. Sci.), M.C.A.
B.Com., M.C.M., M.B.A.(IT)
M. A., M-Phil, P.G. Diploma in
Journalism & Mass Communication
M.Com., P.G.D.M.S.,M.Phil
(Comm & Mgt.)
M.Com.,Company Secretary
67
24 Ms. Deepti Chindarkar M.Com., PGDM (Fin)(Advt Acctg.)
25 Ms. Manchu Thomas M.A. (Geo), MA(Eng) B.Ed.
26 Ms. Rasika Desai M.Com, C.S. (Exe)(Adv.
Accounting)
Visiting Faculty
1. Ms. Abhijeet Dhamdhere M.A., Master in Journalism
2. Ms. Varsha Pendse B.Com., AICWA
3. Mr. Ravindra Manjrekar B.A., D.G.M.
4. Mr. Sameer Karve B.A.,L.L.B., Diploma In
Journalism
5. Ms. Leena Ajish M.Com.
6. Ms. Reesha Jijesh BBS. M.B.A.
7. Ms. Sneha Kadam BMM
8. Ms. Ishita Pradhan MCMS
9. Ms. Shambhavi Bhise MBA (Finance)
10. Ms. Manjiri Joshi M.C.J.
11. Ms. Archana Talekar M.Com., D.F.M., C.A. (Inter)
12. Ms. Zeenath Sheikh M.Com., M.B.A., B.Ed.,GDC & A
13. Mr. Shashikant Kothekar BA, DCJ
14. Ms. Swapna Ranade M.A., D.B.M.
15. Mr. Aruind Parulekar DETE
16. Ms. Bhumika Parelkar MBA (HR)
17. Ms. Gauri Joglekar BE (Elec), PGDBA
18. Ms. Sheetal Chabukswar M.Com.,C.A. (Inter)
19. Mr. Sushil Dixit M.Sc., M.B.A. (Marketing)
20. Mr. Yatin Pandit M.A., LLM, ACS
21. Mr. Nitin Ingawale M.Com, CA(Inter)
22. Ms. Yogita Dhatavker MMS (HR)
23. Ms. Uma Parvathy Iyer
24. Ms. Gayatri Naik

68 AF